Harmony Gold Mining CoHMY +4.01%90 EV-to-FCF is 15.27 as of Jun. 25, 2026, which is 15% above its 10-year median of 13.28. GuruFocus rates HMY with a GF Score™ of 90/100 and a GF Value™ of $16.95 (Modestly Undervalued). Among 446 Metals & Mining companies, Harmony Gold Mining Co ranks better than 58.97% on this metric.
EV-to-FCF is calculated as enterprise value divided by its free cash flow. As of today, Harmony Gold Mining Co's Enterprise Value is $9,841 Mil.
Harmony Gold Mining Co's Free Cash Flow for the trailing twelve months (TTM) ended in Dec. 2025 was $644 Mil. Therefore, Harmony Gold Mining Co's EV-to-FCF for today is 15.27.
The historical rank and industry rank for Harmony Gold Mining Co's EV-to-FCF or its related term are showing as below:
HMY'
s EV-to-FCF Range Over the Past 10 Years
Min: -164.08 Med: 13.28 Max: 87.97
Current: 15.27
During the past 13 years, the highest EV-to-FCF of Harmony Gold Mining Co was 87.97. The lowest was -164.08. And the median was 13.28.
HMY's EV-to-FCF is ranked better than 58.97% of 446
companies
in the Metals & Mining industry
Industry Median: 19.435
vs HMY: 15.27
EV-to-FCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
Harmony Gold Mining Co (NYSE:HMY) EV-to-FCF Explanation
EV-to-FCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
Harmony Gold Mining Co's PE Ratio (TTM) for today is calculated as:
Harmony Gold Mining Co's share price for today is $15.175.
For company reported semi-annually, GuruFocus uses latest annual data as the TTM data. Harmony Gold Mining Co's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Dec. 2025 was $1.495.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Enterprise Value is used because it is a more complete measure in reflecting how much an investor pays when buying a company. Free Cash Flow is an important financial metric because it represents the actual amount of cash at a company's disposal. Companies with a low EV-to-FCF ratio, combined with a strong balance sheet are generally considered as undervalued.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Gold subindustry, Harmony Gold Mining Co's EV-to-FCF, along with its competitors' market caps and EV-to-FCF data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Harmony Gold Mining Co EV-to-FCF vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Harmony Gold Mining Co's EV-to-FCF distribution charts can be found below:
* The bar in red indicates where Harmony Gold Mining Co's EV-to-FCF falls into.
Harmony Gold Mining Co's current Enterprise Value is $9,841 Mil.
For company reported semi-annually, GuruFocus uses latest annual data as the TTM data. Harmony Gold Mining Co's Free Cash Flow for the trailing twelve months (TTM) ended in Dec. 2025 was $644 Mil.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Harmony Gold Mining Co (HMY) has a EV-to-FCF of 15.27 as of Jun. 25, 2026. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on Harmony Gold Mining Co and its competitors. This is 15% above median its historical median of 13.28. According to the industry distribution chart, Harmony Gold Mining Co ranks #183 out of 446 companies in the Metals & Mining industry, placing it in the top 41%.
Is Harmony Gold Mining Co's EV-to-FCF too high?
Harmony Gold Mining Co's current EV-to-FCF of 15.27 is 15% above median its 10-year median of 13.28. The Metals & Mining industry median EV-to-FCF is 19.44. Harmony Gold Mining Co's value of 15.27 is 21.4% below this industry median. Based on the distribution chart, Harmony Gold Mining Co ranks #183 out of 446 companies in the Metals & Mining industry, which is above the industry midpoint. Overall, Harmony Gold Mining Co has a GF Score™ of 90/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Harmony Gold Mining Co's EV-to-FCF compare to NEM and AU?
According to the Metals & Mining industry distribution chart, Harmony Gold Mining Co ranks #183 out of 446 companies for EV-to-FCF. This puts Harmony Gold Mining Co in the upper half of its industry. The industry median EV-to-FCF is 19.44. Harmony Gold Mining Co's value of 15.27 is 21.4% below this benchmark. While the company's 10-year median is 13.28 vs. the industry median of 19.44, Harmony Gold Mining Co has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EV-to-FCF for a Metals & Mining company?
The median EV-to-FCF among Metals & Mining companies is 19.44, based on 446 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-FCF significantly above this median, while those in the bottom quartile fall well below. However, EV-to-FCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Harmony Gold Mining Co's current EV-to-FCF of 15.27 is 21.4% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EV-to-FCF mean?
A high EV-to-FCF can signal that a stock is expensive relative to its fundamentals. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on Harmony Gold Mining Co and its competitors. For the Metals & Mining industry, the median EV-to-FCF is 19.44 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Harmony Gold Mining Co's current EV-to-FCF is 15.27, which is 15% above median its own 10-year median of 13.28. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Harmony Gold Mining Co stock overvalued right now?
Based on GuruFocus' analysis, Harmony Gold Mining Co (HMY) is currently considered Modestly Undervalued. The stock's GF Value™ is $16.95, compared to a current price of $15.18 — trading 10.5% below its estimated fair value. The current EV-to-FCF is 15.27, which is 15% above median its 10-year median of 13.28 and 21.4% below the Metals & Mining industry median of 19.44. Harmony Gold Mining Co's overall GF Score™ is 90/100. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-FCF calculated?
EV-to-FCF is calculated from a company's financial statements. For Harmony Gold Mining Co (HMY), the current EV-to-FCF is 15.27 as of Jun. 25, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Harmony Gold Mining Co (HMY) Overvalued in 2026?
Based on GuruFocus' analysis, Harmony Gold Mining Co stock appears to be undervalued.
The current stock price of $15.18 is trading 10.5% below its estimated GF Value™ of $16.95.
GuruFocus considers Harmony Gold Mining Co to be Modestly Undervalued.
Key valuation signals for HMY:
EV-to-FCF: 15.27 (15% above median its 10-year median of 13.28)
GF Value™: $16.95 vs. price of $15.18 (10.5% below fair value)
Industry Position: 21.4% below the Metals & Mining median (#183 of 446)
No single metric tells the full story. See the HMY stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Harmony Gold Mining Co Ltd is engaged in gold mining and related activities, including exploration, extraction, and processing. The group's primary product is gold bullion, produced at operations in South Africa and Papua New Guinea. Gold byproducts include uranium and silver. Strategic projects such as the Wafi-Golpu Project in the New Guinea Mobile Belt, the Eva Copper Project in the Mt Isa Inlier, Queensland, Australia, and the MAC Copper acquisition position the company as a gold-copper producer. The company operates across South Africa, Papua New Guinea, and Australia.
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